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‌‌(Z2)‌‌ New Weekly Highs

US 10YR FUTURE TECHS
  • RES 4: 113-11+ 50-day EMA
  • RES 3: 112-22+ High Oct 6
  • RES 2: 111-28+ High Oct 13 and key near-term resistance
  • RES 1: 111-25 High Oct 27
  • PRICE: 110-22 @ 15:52 BST Oct 27
  • SUP 1: 109-20/108-26+ Low Oct 25 / 21 and the bear trigger
  • SUP 2: 108-06+ Low Oct 2007 (cont)
  • SUP 3: 107.02 3.0% 10-dma envelope
  • SUP 4: 106-20+ Low Aug 2007 (cont)

Treasuries erased losses following the US open to hit a new weekly high at 111-25. Despite recent gains, the primary trend remains down. Moving average studies are in a bear mode and a broader price sequence of lower lows and lower highs is intact. A resumption of weakness would open 108-20, a Fibonacci projection. Initial firm resistance to watch is at 111-28+. A break here would open 112-22+ and above.

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